Bazookas used a shaped charge, if I remember correctly there was an inverted cone of copper in front of the explosive. On contact the explosive turned the copper into a plasma, which makes that hole.
(I probably have some details off a little, but the idea is the shaped charge creates an incredibly hot jet).
The jet being hot isn’t what penetrates the armor plate - that’s a very common misconception probably stemming from the fact that shaped charges are also known as HEAT (high explosive anti tank) charges.
The copper liner doesn’t actually ever get hot enough to turn into a plasma. Instead, through some clever shaping and sequencing of the explosives in the shaped charges, the copper gets compressed and pushed forward by the explosion so fast that it turns into something akin to hypersonic dust. This jet of very angry copper dust has an enormous amount of kinetic energy focused on a small point. That kinetic energy is then expended forcing its way through the armour plate.
